This Frost & Sullivan research service analyzes the global pneumatic equipment market in detail from 2013 to 2022, where the base year is 2016. This study examines the various product segments within the pneumatic equipment market such as valves, actuators, FRLs, fittings, and others and splits the market revenue across various end-user industries. Market shares of the global market participants are provided for the base year. Regional analyses are provided for North America, Europe, Middle East and Africa (EMEA), Asia-Pacific (APAC), and the Rest of the World (ROW). This study examines the key growth drivers, restraints, product segments, and end-user industries in each region, and provides forecasts by end-us

This Frost & Sullivan research service analyzes the global pneumatic equipment market in detail from 2013 to 2022, where the base year is 2016. This study examines the various product segments within the pneumatic equipment market such as valves, actuators, FRLs, fittings, and others and splits the market revenue across various end-user industries. Market shares of the global market participants are provided for the base year. Regional analyses are provided for North America, Europe, Middle East and Africa (EMEA), Asia-Pacific (APAC), and the Rest of the World (ROW).

Rising investments in Asia-Pacific, focus on energy efficiency, and increased penetration of IIoT are set to drive market growth. Asia-Pacific, home to two fastest growing major economies in the world, has emerged as the key growth engine for this market due to the rising wealth in the region and the growth of the manufacturing sector. Increasing demand for industrial automation in key end-user industries such as automotive, food processing and packaging, chemicals, plastics, and oil, material handling, and semiconductors and electronics, as well as the lifesciences industry, is anticipated to boost the growth of the pneumatic equipment market, on account of their simple design, easy maintenance and low purchase costs.

However, commoditization of the product increases the price pressure, affecting the profit margins of the market participants, especially in the face of increased competition from low-cost Asian manufacturers. On the other hand, increased focus on energy-efficient products is expected to sustain market growth, especially in developed markets such as North America and Europe. This is also complemented by the increasing penetration of IIoT across the manufacturing sectors, which is expected to steady the demand for pneumatic equipment over the forecast period and sustain competition from competing technologies (e.g., electric actuation solutions).

While increased focus on total cost of ownership and reduced energy consumption are expected to result in increased substitution of pneumatic systems with electrical systems in the long term, the high cost of electric systems, practical limitations in hazardous environments, and the complexity involved in the conversion of brownfield facilities are expected to slow down this trend. Read Less